Hormel Foods Corp (NYSE: HRL) has recently received a number of price target changes and ratings updates:
- 9/28/2016 – Hormel Foods Corp was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $42.00 price target on the stock.
- 9/27/2016 – Hormel Foods Corp had its “outperform” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $43.00 price target on the stock.
- 9/22/2016 – Hormel Foods Corp was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $42.00 price target on the stock.
- 9/16/2016 – Hormel Foods Corp was upgraded by analysts at Edward Jones from a “hold” rating to a “buy” rating.
- 9/16/2016 – Hormel Foods Corp is now covered by analysts at Oppenheimer Holdings Inc.. They set a “market perform” rating and a $39.00 price target on the stock.
- 8/24/2016 – Hormel Foods Corp was upgraded by analysts at Edward Jones from a “hold” rating to a “buy” rating.
- 8/23/2016 – Hormel Foods Corp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $44.00 price target on the stock. According to Zacks, “Hormel Foods reported robust third-quarter fiscal 2016 results. Quarter earnings and revenues both surpassed the Zacks Consensus Estimates and their respective year-ago tallies. The company is strategically improving its sales on the back of higher demand for its major branded products. Moreover, greater operational efficacy is boosting its margins over time. Hormel Foods is tactically enhancing buyers’ loyalty towards its brand by offering them good quality innovative edible products. Also, strategic acquisition of Justin’s, LLC and Applegate are also expected to bolster revenues and margins in the quarters ahead. Based on these bullish trends, the company has raised its full-year fiscal 2016 earnings guidance.”
- 8/19/2016 – Hormel Foods Corp was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating. They now have a $44.00 price target on the stock.
- 8/16/2016 – Hormel Foods Corp had its “hold” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $38.00 price target on the stock.
Shares of Hormel Foods Corp (NYSE:HRL) traded up 0.29% during trading on Monday, hitting $38.04. 2,445,814 shares of the stock were exchanged. The stock has a market cap of $20.13 billion, a P/E ratio of 24.70 and a beta of 0.57. Hormel Foods Corp has a 12-month low of $31.66 and a 12-month high of $45.72. The stock has a 50-day moving average of $37.58 and a 200 day moving average of $37.83.
Hormel Foods Corp (NYSE:HRL) last announced its quarterly earnings results on Thursday, August 18th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. Hormel Foods Corp had a net margin of 8.96% and a return on equity of 20.06%. The company earned $2.30 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts predict that Hormel Foods Corp will post $1.63 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 24th will be paid a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, October 20th. Hormel Foods Corp’s dividend payout ratio is currently 37.79%.
In related news, VP Brian Dean Johnson sold 3,500 shares of Hormel Foods Corp stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $38.00, for a total transaction of $133,000.00. Following the sale, the vice president now directly owns 26,119 shares in the company, valued at $992,522. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.54% of the company’s stock.
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